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Senate passes bill to phase out the penny

Original: Senate passes Common Cents bill The measure to provide merchants a cash rounding framework, and to formally phase out th

The US Senate has passed the Common Cents bill, which establishes a cash rounding framework for merchants and formally ends production of the penny. The measure now heads to the White House, where the president's signature would make the phase-out law. Observers in banking and payments are watching how retailers adapt to rounding rules once pennies disappear from circulation.

Why now: The Senate has passed a bill eliminating the penny, a notable change to US currency heading to the White House.

US SenateCommon Cents billWhite House

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Evidence

• Senate passes Common Cents bill The measure to provide merchants a cash rounding framework, and to formally phase out the penny, now heads to the White House. https://www. paymentsdive.com/news/senate-p asses-common-cents-bill/831629/ # FinTech # FinServ # Banking # Payments #… · AlexJimenez@mas.to · 1

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